Mei Lian: The number of appointments to view second-hand properties in housing estates on weekends has slightly increased by about 0.7%.

In Hong Kong, the market this month is focusing on new properties in stock, with some purchasing power also shifting towards second-hand properties. However, the atmosphere of market watchfulness is still affecting property viewing activities. According to statistics from Midland Realty, during the weekend of December 14th to 15th, the number of appointments to view properties in 15 selected estates was about 589, slightly higher than the 585 recorded the previous weekend, showing a slight increase of about 0.7%, indicating stable performance. Midland Realty's Chief Executive Officer of Residential Department, Bu Shaoming, stated that although there is a lack of new large-scale properties being launched this month, there is still an increase in promotions and discounts for existing properties, continuing to attract purchasing power in the market. The upcoming Federal Reserve meeting next week also raises hopes of a third interest rate cut this year, which Hong Kong banks may follow suit, bringing positive news to the market. Additionally, due to the approaching traditional holidays and seasonal factors at the end of the year, coupled with the digestion of some new properties and narrowing price negotiations by second-hand property owners, buyers and sellers are currently in a standoff, creating a strong atmosphere of caution in the market, resulting in a similar level of second-hand property viewing activities this weekend as compared to the previous week. Without any new major property launches before the Federal Reserve meeting in the US, purchasing power continues to focus on second-hand properties. The number of appointments to view properties in four selected estates on Hong Kong Island was about 167, showing a slight increase of about 1.8% compared to the previous week. The number of appointments to view properties in seven selected estates in Kowloon remained stable compared to the previous week, with around 222 appointments recorded this weekend. In the New Territories, the number of appointments to view properties increased slightly by 0.5% compared to the previous week, recording about 196 appointments.